- CapitaLand Ascott Trust remains our top pick in the sector with its geographically diversified portfolio, wide range of lodging asset classes, stable income base which has proven its resilience through COVID-19, and a strong sponsor.
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- 4Q24 portfolio RevPAU increased 9% y-o-y to S$176 despite the high base, reaching 113% of pre-COVID 4Q19 levels. This was driven by a higher average occupancy of 81% (4Q23: 77%) and increased average daily rates (ADR) across the portfolio.
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The Positives
Strong RevPAU growth despite the high base in FY23.
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